River Road Asset Management LLC Has $12.60 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

River Road Asset Management LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 249,366 shares of the network equipment provider’s stock after selling 6,172 shares during the quarter. River Road Asset Management LLC’s holdings in Cisco Systems were worth $12,598,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CSCO. Kathleen S. Wright Associates Inc. acquired a new stake in Cisco Systems during the 3rd quarter worth about $27,000. Valued Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $32,000. Fortis Capital Advisors LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $34,000. Morton Brown Family Wealth LLC grew its stake in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC grew its stake in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.7 %

Cisco Systems stock opened at $48.14 on Thursday. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The firm has a market capitalization of $194.93 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.75 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $49.14 and a 200 day simple moving average of $50.31.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. On average, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is 48.63%.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research reports. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $60.00 in a research note on Monday. Piper Sandler raised their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius Research restated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Barclays raised their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.03.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last three months. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.